Grim future for coal and gas if China and Japan meet climate plans

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The Reserve Bank of Australia’s recent analysis of coal and gas exports shows the industries would at leave halve if major customers China, Japan and South Korea met their climate commitments. | Mike Foley COP26 Auspol

Modelling shows the future of fossil fuel exports that drive regional economies is grim, complicating the Prime Minister’s message to the Nationals that regional Australia will be shielded from losses under his push to commit to net zero emissions by 2050.

Nationals MPs and Senators are concerned that committing to cut emissions will kill off resources industries that are based in their electorates and have asked the federal government for more detail on their projections.in lower emissions industries hydrogen, minerals processing as well as green steel and aluminium, and Mr Morrison has said regional Australia will not “carry the burden for the country” on climate policy. The details of the Coalition’s net zero plan have not been released.

Resources Minister Keith Pitt, one of several Nationals MPs who are firmly opposed to a net zero target, said forecasts prepared by his department expect coal exports to grow until 2030. LNG exports would also increase and demand for critical minerals, which include copper and nickel needed for solar and wind farm infrastructure, would expand.

 

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“ leave halve “ what ?

p_hannam 'the industries would at leave halve'

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